Ardmore Shipping Signs Contracts for 4 Product & Chemical Tanker Newbuildings

By MarEx 2013-08-21 11:07:00

Ardmore Shipping Corporation (NYSE:ASC) (“Ardmore” or the “Company”) announced that it has executed contracts for the construction of four 25,000 Dwt IMO 2 eco-design product & chemical tankers ordered from Fukuoka Shipbuilding Co. Ltd., Japan (“Fukuoka”) for a total price of approximately $118,000,000.

As part of the contracts, Ardmore has also negotiated fixed price options for additional vessels.

Ardmore expects to take delivery of the contracted vessels between fourth quarter 2014 and fourth quarter 2015.

Including these four newbuildings, Ardmore has exercised options or signed newbuilding contracts for a total of eight vessels since pricing its IPO on July 31, 2013, increasing the Company’s fleet to 20 vessels consisting of eight vessels in operation and 12 newbuildings on order.

The products and services herein described in this press release are not endorsed by The Maritime Executive.